Pacer Advisors Inc. Acquires Shares of 333,921 Ramaco Resources, Inc. (NASDAQ:METC)

Key Points

• Pacer Advisors Inc. has acquired a new position in Ramaco Resources, Inc., purchasing 333,921 shares valued at approximately $2.75 million, representing 0.75% ownership of the company.
• Ramaco Resources reported a quarterly earnings per share (EPS) of ($0.19), beating expectations, but experienced a 22% decline in revenue compared to the same quarter last year.
• Analysts have issued mixed ratings for Ramaco Resources, with price targets ranging from $14.00 to $27.00, reflecting different outlooks on the company's market performance.

Pacer Advisors Inc. bought a new stake in Ramaco Resources, Inc. (NASDAQ:METC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 333,921 shares of the energy company's stock, valued at approximately $2,748,000. Pacer Advisors Inc. owned 0.75% of Ramaco Resources at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Discovery Capital Management LLC CT purchased a new position in Ramaco Resources in the 4th quarter worth about $9,289,000. CenterBook Partners LP purchased a new position in Ramaco Resources in the 4th quarter worth about $6,862,000. Graham Capital Management L.P. purchased a new position in Ramaco Resources in the 4th quarter worth about $3,588,000. Point72 Asset Management L.P. increased its stake in Ramaco Resources by 98.9% in the 4th quarter. Point72 Asset Management L.P. now owns 696,531 shares of the energy company's stock worth $7,146,000 after buying an additional 346,265 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Ramaco Resources by 39.0% in the 4th quarter. Wells Fargo & Company MN now owns 797,283 shares of the energy company's stock worth $8,180,000 after buying an additional 223,682 shares during the period. Hedge funds and other institutional investors own 74.49% of the company's stock.

Ramaco Resources Stock Down 6.8%

Ramaco Resources stock traded down $1.39 during midday trading on Friday, hitting $18.96. 3,925,829 shares of the company's stock were exchanged, compared to its average volume of 3,621,268. The firm has a 50-day moving average of $14.16 and a two-hundred day moving average of $10.95. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.87 and a current ratio of 1.32. Ramaco Resources, Inc. has a 12 month low of $6.30 and a 12 month high of $24.75. The company has a market cap of $1.04 billion, a PE ratio of -42.13 and a beta of 1.35.

Ramaco Resources (NASDAQ:METC - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The energy company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.07). Ramaco Resources had a negative return on equity of 5.50% and a negative net margin of 3.17%. The firm had revenue of $152.96 million during the quarter, compared to analysts' expectations of $131.55 million. During the same period in the previous year, the firm earned $0.08 EPS. The firm's quarterly revenue was down 1.5% on a year-over-year basis. As a group, analysts expect that Ramaco Resources, Inc. will post 0.05 earnings per share for the current fiscal year.

Ramaco Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a $0.0688 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. Ramaco Resources's payout ratio is presently -350.00%.

Analyst Ratings Changes

Several brokerages have issued reports on METC. Wall Street Zen cut shares of Ramaco Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Jefferies Financial Group reiterated a "buy" rating and set a $27.00 target price (up from $15.00) on shares of Ramaco Resources in a report on Wednesday, July 16th. B. Riley dropped their target price on shares of Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Finally, Benchmark dropped their target price on shares of Ramaco Resources from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th.

About Ramaco Resources

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.